Banca Transilvania shares closed down 2.88% Monday, to RON1.01. At this price, the bank has a market value of RON1.79 billion.
In the previous report, Raiffeisen analysts said Banca Transilvania should be one of the main beneficiaries of Romania’s economic recovery, and it is favored by changes in lending regulation.
Explaining the price decline, analysts said they were cautious given the low degree of cover with provisions, which limits the risk cost decline. Raiffeisen Capital&Investment maintains a reserved attitude towards Banca Transilvania shares, especially since economic growth is expected to underachieve.
In the first half of the year, Banca Transilvania reported a net profit of RON65.6 million, compared to RON33.2 million in the same interval of 2010. (EUR1=RON4.2809)